One of the best options for redeeming Amex MR points is Airline partners. On the hotel side you are only getting 1 cent per point, but on the airline side where you can transfer 1:1 and usually get business class/first class roundtrip tickets from NA to Asia/Europe for 80-120K points which is closer to a 7 cent redemption value. I understand at that level of MR points, you won't need all of them for Airfare, unless you want to do a lot of traveling, but you could use them for Airfare then what's left on hotels.

Skyteam is the aliance of airlines lines like delta, airfrance, klm, etc (basically around the world.) You can go on the website and passes to travel around the world (or just through say europe or asia) on basically one plane ticket. You can purchase tickets between countries in your passes area (or around the world pass) day of if you like. You also discounts for doing it this way instead of purchasing a bunch of seperate flights..go to skyteam's website. Also I guess the way you would do this is transfer all your points to frequent flyer miles and then go about how you normally book airfare.

8k in gift cards if your lucky. Damn points keep getting devalued. Best way to use is miles and hotel points. Look for next Amex special. There was a British airlines transfer bonus. Flyertalk forums keep up to date on these specials.

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